The Briefing Room
General Category => Politics/Government => Topic started by: mystery-ak on March 10, 2024, 02:41:23 pm
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Buttigieg: Biden Will Continue to Fight Deficit by Raising Taxes
Ian Hanchett 9 Mar 2024
On Friday’s broadcast of the Fox News Channel’s “Your World,” Transportation Secretary Pete Buttigieg said that there is more work to be done on deficit reduction, President Joe Biden will continue to work on reducing the deficit, and that’s why the President has put out a proposal to raise taxes.
After Buttigieg [relevant exchange begins around 2:20] said that Biden will “continue down the path of deficit reduction that he has achieved in his presidency,” host Neil Cavuto said, “We have more debt than we did when he assumed office. Debt has grown under this President. By the way, it’s grown under the last one, the before him, and the one before him. So, no one’s making real progress here.”
Buttigieg responded, “Right. Well, but again, more meaningful deficit reduction than we’ve seen in quite a while. Yeah, you’re right, more work to be done, which is why he put out — look, you’re never supposed to even use the t-word, tax, in an address. But he pointed out a way to do it that would not touch anybody making less than $400,000 a year, which is something that most Americans, if not most members of Congress, support.”
https://www.breitbart.com/clips/2024/03/09/buttigieg-biden-will-continue-to-fight-deficit-by-raising-taxes/
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Buttigieg attended Harvard University, where he graduated with a bachelor’s degree in history and literature in 2004. He later studied at the University of Oxford as a Rhodes scholar. After earning a bachelor’s degree in philosophy, politics, and economics from Oxford’s Pembroke College in 2007,
All that and the guy is still a Friggin Moron 9999hair out0000 Gee Wally all we have to do is tax the bejesus out of everyone making 400K and over and the deficit will just disappear and all our other economic problems too! Unfortunately for the Alfred E. Newman clone there's this little thing called reality that all the rest of us have to live with.
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It’s obvious that the Biden campaign strategy is not only to run against Donald Trump but to also run against reality
We are looking at nearly $2 trillion in deficits under this guy.
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Buttigieg responded, “Right. Well, but again, more meaningful deficit reduction than we’ve seen in quite a while. Yeah, you’re right, more work to be done, which is why he put out — look, you’re never supposed to even use the t-word, tax, in an address. But he pointed out a way to do it that would not touch anybody making less than $400,000 a year, which is something that most Americans, if not most members of Congress, support.”
The total income generated by people making over $400,000 comes to $2.6 trillion. This group currently pays around 43% of all taxes collected. Yet for Buttigieg and Biden, this still isn't enough.
Now the numbers. Of that $2.6 trillion in income, they are already handing $676 billion of it over to the federal government. That leaves around $1.92 trillion. The deficit is $1.7 trillion. So the government will need to take over 88% of what is left over after taxing them the first time. Or another way of looking at it, government will need to confiscate 65% of the income of the top 1% in order to balance the budget.
Of course Democrats are complete idiots when it comes to human nature. They really believe that the top 1% will work even harder to make up the difference. It never crosses their minds that the top 1% will simply start working less since their incentive to work has been severely curtailed.
So instead of them being grateful with the top 1% supplying a whopping 43% of their revenues, they now demand they supply 71% of their revenues. Except what will really happen is that the top 1% will stop working altogether and will begin contributing 0% of total revenues.
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What a hero, Joe is gonna save us by exporting our jobs to China and India, along with exporting our Armies to hostile radical muslim nations and entities, and abandoning our civilians there to never be seen again. While exporting Trillions to foreign nations, many of them hostile, and leaving Americans to live on the streets in poverty. All from saving us from the evil Trump who was bringing jobs back to America, especially for minorities, from China. Kind joe doesn't even want money from the foreigners that receive billions, just plans to give Americas the costs in much higher taxes and prices. The ones that have jobs of course.
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I heard about two minutes of Glenn Beck today, but he mentioned Pete Buttgigger in the context of the children's program, "Where in the world is Carmen Sandiego?" In other words, where in the world is Pete Buttigieg while all these airline failures are happening.
We know where his BF is:
Pete Buttigieg's husband is on tape telling young children to pledge allegiance to the LGBTQ flag
https://twitter.com/EndWokeness/status/1767251208970940879
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The total income generated by people making over $400,000 comes to $2.6 trillion. This group currently pays around 43% of all taxes collected. Yet for Buttigieg and Biden, this still isn't enough.
Now the numbers. Of that $2.6 trillion in income, they are already handing $676 billion of it over to the federal government. That leaves around $1.92 trillion. The deficit is $1.7 trillion. So the government will need to take over 88% of what is left over after taxing them the first time. Or another way of looking at it, government will need to confiscate 65% of the income of the top 1% in order to balance the budget.
Of course Democrats are complete idiots when it comes to human nature. They really believe that the top 1% will work even harder to make up the difference. It never crosses their minds that the top 1% will simply start working less since their incentive to work has been severely curtailed.
So instead of them being grateful with the top 1% supplying a whopping 43% of their revenues, they now demand they supply 71% of their revenues. Except what will really happen is that the top 1% will stop working altogether and will begin contributing 0% of total revenues.
I'd bet every one of those shakers and movers has read Atlas Shrugged, too.
Galt's Gulch coming up!
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Buttigieg attended Harvard University, where he graduated with a bachelor’s degree in history and literature in 2004. He later studied at the University of Oxford as a Rhodes scholar. After earning a bachelor’s degree in philosophy, politics, and economics from Oxford’s Pembroke College in 2007,
All that and the guy is still a Friggin Moron 9999hair out0000 Gee Wally all we have to do is tax the bejesus out of everyone making 400K and over and the deficit will just disappear and all our other economic problems too! Unfortunately for the Alfred E. Newman clone there's this little thing called reality that all the rest of us have to live with.
Fuller's Rule of the Nevers, #4: Never trust anyone nor anything from Harvard.
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The total income generated by people making over $400,000 comes to $2.6 trillion. This group currently pays around 43% of all taxes collected. Yet for Buttigieg and Biden, this still isn't enough.
Now the numbers. Of that $2.6 trillion in income, they are already handing $676 billion of it over to the federal government. That leaves around $1.92 trillion. The deficit is $1.7 trillion. So the government will need to take over 88% of what is left over after taxing them the first time. Or another way of looking at it, government will need to confiscate 65% of the income of the top 1% in order to balance the budget.
Of course Democrats are complete idiots when it comes to human nature. They really believe that the top 1% will work even harder to make up the difference. It never crosses their minds that the top 1% will simply start working less since their incentive to work has been severely curtailed.
So instead of them being grateful with the top 1% supplying a whopping 43% of their revenues, they now demand they supply 71% of their revenues. Except what will really happen is that the top 1% will stop working altogether and will begin contributing 0% of total revenues.
Eventually it's going to turn into seizing their assets and wealth taxes. They haven't gotten that far yet, for one reason: a lot of those institutionally wealthy people are funding their Super-PACs and can use those income tax hikes to keep competitors at bay. They already have a pot that income taxes don't touch.
But the AOC crowd is rising.
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I reckon cutting spending never crossed their minds?
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I reckon cutting spending never crossed their minds?
Of course not. You can't buy votes by cutting back on spending.
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The Butt gig and demented Joe dog and pony show is here with false promises to make things better as they work to bring everything crashing down, with lies everything is getting better.
:dumpster: :dumpster: :reaper: :dumpster: :dumpster: